Incredible toaster (trade and development)

I once bought a new toaster at Target. It cost me $6.33. How is it possible that it cost as little as $6.33? How can a "toaster with more than 400 components and sub-components, made from nearly 100 different materials", including oil for plastic, cost as little as $6.33? As Tim Harford writes, "for no effort and very little money, we can buy a toaster and enjoy the global efforts of an uncounted workforce, and the accumulated knowledge of the centuries that the toaster embodies".